[2024] How to get HDFC Mudra Loan
How to apply for HDFC Mudra Loan | HDFC Mudra Loan Scheme 2024
How to get HDFC Mudra Loan: HDFC Bank gives many types of loans like Personal Loan, Business Loan, Car Loan, Home Loan and many such types of loans and this bank also gives Mudra loan for small businesses. Mudra loan is given to Micro Small Medium Enterprises (MSME) engaged in non-agriculture based businesses, because today there are many small scale businesses in India, hence these services are provided by HDFC Bank, so that any person can do business. HDFC Mudra Loan Scheme 2024
How to get HDFC Mudra Loan
HDFC Mudra Loan Scheme 2024
- Interest rate :- Starting from 8.65%
- Maximum loan amount :- ₹ 10 lakh
- Duration :- Maximum 5 years
- Security :- Required
Features of HDFC Mudra Loan
Features Of HDFC Mudra Loan Scheme-
Nature of facility Term Loan and Working Capital
Objective modernization, business capital, expansion
Target groups People belonging to the business sector, part of commercial enterprises, and those who carry out agricultural activities
Amount of loan Maximum loan amount: Rs 10 lakh
Loan up to Rs 50,000 is under Shishu category
Loans under KISHORE category range from Rs 50,001 to Rs 500,000
Loans under TARUN category range from Rs.500,001/- to Rs.10,00,000/-
Repayment period 3-5 years
Processing fee No Fees for Child and Teen Loans
0.5% of loan amount for Tarun Loan
Margin NIL for loans up to Rs 50,000
10% for loan amount from Rs.50,001 to Rs.10 lakh
Price determination Pricing is linked to MCLR
Collateral security Collateral security is not required. However, as primary security, hypothecation of P&M for TAL and hypothecation of stock and receivables for CC is to be done.
Eligibility Criteria New and existing units
Other conditions you should be aware of The loan you take under the Mudra Scheme is guaranteed by the Credit Guarantee for Micro Units (CGFMU) and the National Credit Guarantee Trustee Company (NCGTC).
The cover is available for 5 years and hence the recommended tenure is for 60 months.
You can view leads on Udemy Mitra portal.
All CC account holders will be issued Mudra RuPay Card by their respective branches.
Types of HDFC Mudra Loan Scheme
HDFC Mudra Loan Scheme Types :- Three types of loans are provided under HDFC Mudra Loan. All of them have different interest rates and each has different loan amount, which a person can take as per his business.
Mudra Loan Scheme Amount
Baby Loan up to ₹ 50,000
Teen Loan ₹ 50,000 to ₹ 5 lakh
Youth Loan ₹ 5 lakh to ₹ 10 lakh
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Shishu Loan:- Shishu Loan is for those businesses who are in the stratifying stage of their business or want to start the business. The maximum amount given under Shishu Loan is Rs 50,000.
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Kishore Loan :- This loan is for those businessmen who have already started their business but need more money to expand their business. Such a person can take loan from Kishore Loan Scheme. The minimum loan amount of this scheme is Rs 50,000. and maximum of Rs 5 lakh.
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Tarun Loan :- Tarun Loan Scheme provides Minimum Rs 5 Lakh and maximum up to Rs 10 lakh loan for business expenses.
HDFC Mudra Loan Scheme Interest Rates 2024
HDFC Mudra Loan Scheme Interest Rates 2024 :- The loan interest rates available to applicants taking HDFC Mudra Loans start from 8.65%. Many types of loans are available under this scheme. The interest rates depend on many other factors, such as- Credit Score, Business Profile, How old is the business, what is the turnover etc. Once the application is verified, the applicable rate of interest is decided,whose information is given by the loan officer of the bank.
Why apply for HDFC Mudra Loan Scheme?
HDFC Mudra Loan Scheme :- HDFC Mudra Loan is an ideal option for individuals who need money to meet their various business-related needs. Listed below are some of the reasons why you should apply for Pradhan Mantri Mudra Yojana.
- Individuals requiring funds for business needs can avail loans at interest rates under HDFC Mudra Loan Scheme.
- HDFC Mudra Loan Scheme is helpful in employment generation and GDP growth.
- The processing fee charged for HDFC Mudra Loan Scheme is comparatively low.
- For Kishore and Shishu schemes, zero processing fee is charged from MSE units availing the loan, while for Tarun scheme interest at 0.50% plus tax is charged.
HDFC Money Loan 2024 Eligibility Criteria
HDFC Mudra Loan 2024 Eligibility Criteria
- The applicant must obtain minimum 50% marks in Mudra Scoring Card for Shishu Loan.
- Applicant must be a resident of India and his age should be between 18 to 65 years
- Existing individual customers maintaining current account with Savings Bank/HDFC can apply for the e-Mudra digital platform.
- The applicant has not availed any SME loan in the past.
- Satisfactory bureau report from CRIF High Mark and meeting the standards of the bank.
- Aadhaar must be linked to the bank and mobile number must be linked with Aadhaar.
Documents Required for HDFC Mudra Loan Application
HDFC Mudra Loan Documents
- ID:- Passport, PAN Card, Aadhar Card, Voter ID Card, Driving License, Photo Credit Card, Any Identity Card issued by Government, Defense ID Card etc.
- Residence/Business Proof:- Aadhar Card, Ration Card, Passport, Bank Account Statement, Voter ID Card, Telephone Bill, Electricity Bill, Water Bill (not older than 3 months)
- 2 passport size photographs of the applicant
- Minority certificate, if applicable
- Account statement for last 6 months
- Quotation of machinery to be purchased
Additional documents required for Tarun and Kishore Schemes
- Un-audited balance sheet of last 2 years
- Sales and Income Tax Returns
- Estimated balance sheet for the loan period
- Sales information till application form submission
- Memorandum of Association (MOA), Articles of Association, and Partnership Deed
- Quotation of property to be purchased etc.
- Asset and liability information
How to Apply HDFC Mudra Loan Application Form
HDFC Mudra Loan 2024 Apply :- If you want to apply for HDFC Mudra Loan then you can apply for it by going to the bank. A form for this will be available in the bank, fill the form and submit it there and after verifying the documents, the loan is given.
HDFC Mudra Loan Customer Care Number
HDFC Mudra Loan Customer Care Number :- You can get more information about HDFC Mudra Loan from the number given below-
- HDFC Miss Call Service :- +91-9289200017
- HDFC SMS Service:- HDFC HOME To 56767
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FAQs:
Q:- What is the repayment criteria for Mudra Loan?
Answer: The repayment period of Mudra loan ranges from minimum 3 years to maximum 5 years.
Q:- Who is eligible for HDFC Mudra Loan?
Answer: Mudra Loans to individuals, MSMEs, artisans, retailers, traders, manufacturers, small vendors, shopkeepers, private and public limited companies, sole proprietorships, partnershipsCan be taken by firms, limited liability partnerships and various other entities.
Q:- How much time does it take to get HDFC Mudra loan?
Answer: Mudra loan approval and loan disbursement takes approximately 7-10 working days depending on the profile of the lender and the applicant.
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